Up in the air: the prospects for many European airlines are bleak

Many of Europe’s airlines are continuing to experience turbulence, while their American peers achieve record earnings.

20th January, 2019
Skúli Mogensen, founder, Wow Air: smaller companies can find a niche, even as competition grows fiercer

Midwinter in Iceland can be brutal, with temperatures struggling to rise much above freezing and daylight spanning barely four hours. For the North Atlantic island nation’s two main airlines, Icelandair and Wow Air, times are equally bleak.

With competition from larger carriers depressing fares and fluctuating oil prices making it tougher to manage costs, mounting losses and weak balance sheets are stoking concern about the airlines’ futures.

Iceland isn’t alone in feeling...

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